American Institute of Certified Planners (AICP) Practice Exam

Question: 1 / 2080

What is NAFTA and when was it implemented?

A trade bloc between Canada, the United States, and Mexico, 1994

NAFTA, or the North American Free Trade Agreement, was established as a trade bloc between Canada, the United States, and Mexico, effective from 1994. This agreement aimed to eliminate trade barriers and tariffs between the three countries, which facilitated increased trade and investment. By promoting free trade, NAFTA sought to enhance economic growth and cooperation within North America.

The choice that refers to a tariff agreement between the US and the EU in 1990 is incorrect, as NAFTA specifically involves North American countries. Additionally, a monetary policy between Canada and Mexico in 1995 does not relate to NAFTA, which is focused on trade rather than monetary matters. The mention of a free trade zone in South America in 2000 is also inaccurate in the context of NAFTA, as it pertains to a distinct geographical and economic arrangement separate from the North American agreement.

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A tariff agreement between the US and the EU, 1990

A monetary policy between Canada and Mexico, 1995

A free trade zone in South America, 2000

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